How To Determine How Much Life Insurance To Buy?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    A lot depends on your circumstances. While some agents use a rule of thumb approach each case is different. It depends on what you need to protect. Are you married? Is there children? Do you have a mortgage or debt? What is your income level? Does your spouse work and will he or she be able to continue to work if you die? A good agent will do a complete fact find analysis of your situation, taking in consideration all of your needs and your financial situation and help you determine the amount of insurance you need, the type of insurance and take in consideration the affordability of what he recommends.
    Answered on April 19, 2013
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